Turn Your Generosity Into Lifetime Income

Charitable Gift Annuities

Payments for Life

Learn more about the many benefits of a charitable gift annuity in our FREE guide Charitable Gift Annuities: Gifts That Give Back.View My Free Brochure

When looking for ways to help Grinnell College with our mission, you shouldn't feel like you are choosing between your philanthropic goals and financial security. One gift that allows you to support the College's work while receiving fixed payments for life is a charitable gift annuity.

Not only does this gift provide you with regular payments and allow us to further our work, but when you create a charitable gift annuity with the College you can receive a variety of tax benefits depending on how you fund your gift.

If you fund your gift annuity with cash or appreciated property, you qualify for a federal income tax deduction if you itemize. In addition, you can minimize capital gains taxes when you fund your gift with appreciated property.

And now, you can fund your gift using your IRA assets. If you are 70½ and older, you can make a one-time election of up to $50,000 to fund a gift annuity. While your gift does not qualify for an income tax deduction, it does escape income tax liability on the transfer and count toward all or part of your required minimum distributions.

Gifts That Pay

Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Deferred Gift Annuities: Plan Now, Benefit Later.

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Deferred Gift Annuity Request Form
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Check Out This Potential Scenario

Couple walking and smilingSay that Justin, 66, and Mary, 65, want to make a contribution to the College that will support our work for generations to come, but they also want to ensure that they have dependable income during their retirement years. They establish a $20,000 charitable gift annuity with the College. Based on their ages, they will receive a payment rate of 4.8%, which means that they will receive $960 each year for the remainder of their lives. They're also eligible for a federal income tax charitable deduction of $7,649* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support our mission.

*Based on a 5.2% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.

For Socially Conscious Couple, Charitable Gift Annuity Is Rewarding Way to Give Back

Vicki Lofquist with her husband, Craig ThiesenVicki Lofquist '71 learned about Charitable Gift Annuity's (CGAs) during her time working at several nonprofit organizations and as the alumni relations and annual fund director for Metropolitan State University.

She put that knowledge into action in 2018 when she and her husband Craig Thiesen set up a CGA for Grinnell College. The cash they donate gives them a charitable deduction, and the College, which invests the money, sends quarterly payments to Lofquist and Thiesen for the rest of their lives.

The funds the St. Paul, Minnesota, couple gave are unrestricted and undesignated, meaning the College can use them wherever the need is greatest.

"If you're looking for a revenue stream in retirement, this is a great way to create that stream and be charitable at the same time," says Lofquist, who received a scholarship when she attended Grinnell. "And unlike the stock market, we know what it's supporting, plus it's not volatile."

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See How It Works

Learn How to Fund It

You can use the following assets to fund a charitable gift annuity:

Calculate Your Benefits

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Not Sure How to Begin Planning?Download our FREE Personal Estate Planning Kit

Next Steps

  1. Contact Buddy Boulton at 866-850-1846 or PG@grinnell.edu for additional information on charitable gift annuities or to chat more about the personal benefits of creating an annuity with the College.
  2. Seek the advice of your financial or legal advisor.
  3. If you include the College in your plans, please use our legal name and federal tax ID.

Legal Name: Trustees of Grinnell College
Address: 733 Broad Street, Grinnell IA 50112
Federal Tax ID Number: 42-0680387

A charitable bequest is one or two sentences in your will or living trust that leave to Grinnell College a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Grinnell College, a nonprofit corporation currently located at 733 Broad Street, Grinnell IA 50112, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to the College or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property, or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to the College as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to the College as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and the College where you agree to make a gift to the College and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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